Edit: Prince Group (Chen Zhi)

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> **Note:** Chen Zhi is charged and remains at large; the allegations below are from the DOJ indictment and have not been adjudicated.

## Overview

Prince Holding Group (Prince Group) is a Cambodian conglomerate, founded and chaired by Chen Zhi (a.k.a. "Vincent"), that publicly presented itself as a real-estate, financial- and consumer-services business. According to an indictment unsealed in Brooklyn on October 14, 2025, Chen and top executives secretly built it into a transnational criminal organization operating at least ten "scam compounds" across Cambodia. [1][2]

## Pig-butchering and forced labor

The DOJ alleges that workers — many trafficked and held against their will — were forced to run "pig-butchering" schemes: contacting victims online, building trust, and luring them into fake cryptocurrency investments that stole billions of dollars worldwide. Chen is charged with wire-fraud and money-laundering conspiracies. [1][2]

## Record seizure

Alongside the indictment, the DOJ filed a civil forfeiture action against approximately 127,271 bitcoin — worth about $15 billion — described as the largest forfeiture action in DOJ history. The UK and US also sanctioned Prince Group and linked entities (e.g. Jin Bei Group, Byex Exchange). [1][2]

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